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In a market economy, what is supply?
Goods and services that are offered by producers
Goods and services that are offered by consumers
Consumers who buy goods and services
Producers who buy goods and services
The correct answer is: Goods and services that are offered by producers.
In a market economy, supply refers to the quantity of goods and services that producers are willing and able to offer for sale at various prices. It reflects the production capabilities and intentions of businesses in the marketplace. If you have more questions on this topic, feel free to ask!
In a market economy, supply refers to the goods and services that are offered by producers.
When producers create products or services, they make them available in the market for consumers to purchase. The concept of supply is crucial because it affects prices and availability based on how much producers are willing to sell at different price levels.